Surpluses always occur - Study guides, Class notes & Summaries

BUSINESS ECONOMIC QUESTIONS AND ANSWERS WITH PLEASANT ANSWERS 1. Economics is best defined as the study of: A. prices and quantities. B. inflation and interest rates. C. how people make choices under the conditions of scarcity and the results of those choices. D. wages and incomes. Refer to the definition of economics. AACSB: Analytic Blooms: Remember Difficulty: 1 Easy Learning Objective: 01-01 Explain and apply the Scarcity Principle; which says that having more ...